MONTREAL - Stella-Jones Inc. (TSX:SJ) booked solid results for the third quarter, helped by strong sales from a facility in the southern United States that the Montreal-based company acquired late last year.
The manufacturer of railway ties and utility poles earned $20.7 million or $1.29 per share in the quarter ended Sept. 30.
That's up from $16.6 million or $1.03 per share in the same 2011 period.
Sales increased to $195.4 million from $181.8 million last year.
Its Arkansas operating facility, acquired from Thompson Industries in December 2011 for US$41 million, accounted for about $12.3 million in sales.
Stella-Jones said its operating income jumped to $31.8 million in the quarter, up from $25.6 million.
The Montreal-based company announced last week it will buy McFarland Cascade Holdings Inc., one of North America's oldest suppliers of utility poles for US$230 million, further continuing its reach and product offering.
Stella-Jones is a producer and marketer of pressure-treated wood products. It supplies North America's railway operators with ties, timbers and recycling services. It also sells utility poles for electrical and telecom utilities.
It also provides industrial products and services for construction and marine applications, as well as residential lumber to retailers and wholesalers for outdoor applications.
